Great Range Capital said Monday that it has acquired a majority stake in Fairbank Equipment. Financial terms weren’t announced. Wichita, Kansas-based Fairbank Equipment distributes application and control equipment used in the agriculture and energy industries.
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Kansas City-based private equity firm Great Range Capital has acquired specialty transportation company LLL Transport. Terms of the deal were not released. LLL Transport is based in Brookfield, Mo., and employs roughly 130 people.
Ryan Sprott and Paul Maxwell are brothers-in-law who first met twenty years ago in their native Kansas City. Now, they are giving up their East Coast private equity jobs in order to launch a new firm back home.
It’s called Great Range Capital, and will focus on Midwestern, lower middle-market companies. Typical equity checks will be between $10 million and $30 million, and the sector strategy is mostly agnostic (save for an aversion to financial services and oil & gas).